Chicago Partners Investment Group LLC Purchases 194 Shares of Qorvo, Inc. (NASDAQ:QRVO)

Chicago Partners Investment Group LLC grew its position in Qorvo, Inc. (NASDAQ:QRVO) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,789 shares of the semiconductor company’s stock after purchasing an additional 194 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Qorvo were worth $280,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Qorvo in the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC increased its position in Qorvo by 81.0% during the first quarter. EverSource Wealth Advisors LLC now owns 257 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 115 shares during the period. Versant Capital Management Inc boosted its holdings in Qorvo by 9,333.3% in the 2nd quarter. Versant Capital Management Inc now owns 283 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 280 shares during the period. New Millennium Group LLC bought a new stake in Qorvo in the 2nd quarter valued at about $34,000. Finally, Blue Trust Inc. increased its holdings in shares of Qorvo by 241.6% during the second quarter. Blue Trust Inc. now owns 345 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 244 shares during the period. Institutional investors own 88.57% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Bank of America reduced their price target on Qorvo from $115.00 to $80.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 30th. Susquehanna reduced their target price on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Barclays dropped their price target on Qorvo from $120.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. BNP Paribas downgraded shares of Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a research note on Wednesday, October 30th. Finally, Morgan Stanley lowered shares of Qorvo from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $130.00 to $120.00 in a report on Friday, October 11th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Qorvo presently has an average rating of “Hold” and a consensus target price of $104.75.

Qorvo Trading Up 0.6 %

Shares of QRVO stock opened at $71.80 on Wednesday. Qorvo, Inc. has a twelve month low of $70.39 and a twelve month high of $130.99. The stock’s fifty day simple moving average is $100.75 and its 200 day simple moving average is $106.68. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $6.79 billion, a P/E ratio of -49.18, a P/E/G ratio of 4.23 and a beta of 1.49.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Qorvo had a positive return on equity of 13.81% and a negative net margin of 3.58%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.99 earnings per share. As a group, sell-side analysts predict that Qorvo, Inc. will post 4.59 EPS for the current fiscal year.

Insider Activity

In related news, VP Gina Harrison sold 689 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $107.67, for a total value of $74,184.63. Following the completion of the sale, the vice president now directly owns 21,601 shares in the company, valued at $2,325,779.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Qorvo Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.